Charity Registration Number 312714 Consolidated Report and Financial Statements Year Ended 31 August 2020 Contents Principal Addresses and Advisers 3 Trustees’ Report and Statement of Responsibilities 4 Governor Committees 5 Chair of Governors Foreword 5 Head and Principal Foreword 7 Trustees’ Report 8 Fundraising 19 Financial review 20 Governance Matters 23 Statement of Governors’ Responsibilities 25 Independent auditor’s report 27 Consolidated statement of financial activities 29 Consolidated and charity balance sheets 30 Consolidated cash flow statement 32 Notes forming part of the accounts 33 LATYMER FOUNDATION CONSOLIDATED REPORT AND FINANCIAL STATEMENTS 2020 2 Principal Addresses and Advisers Address Latymer Upper School The Latymer Preparatory School King Street 36 Upper Mall Hammersmith Hammersmith London London W6 9LR W6 9TA Bankers Investment Advisers National Westminster Bank Smith & Williamson 22 King’s Mall Investment Management LLP London Portwall Place W6 OQD Portwall Lane Bristol BS1 6NA Solicitors Insurance Brokers Farrer & Co LLP Marsh Ltd 66 Lincoln’s Inn Fields 9– 17 Perrymount Road London Haywards Heath WC2A 3LH West Sussex RH16 3DU DAC Beachcroft LLP 100 Fetter Lane London EC4Y 1BN Auditors BDO LLP 2 City Place, Beehive Ring Road Gatwick, West Sussex RH6 0PA LATYMER FOUNDATION CONSOLIDATED REPORT AND FINANCIAL STATEMENTS 2020 3 Trustees’ Report and Statement of Responsibilities The Trustees of the Foundation are the Governing Body which comprises 1 Ex-Officio Governor and up to 15 Co-Opted Governors, who hold office for five-year terms. In accordance with clause 7(1) of the Scheme of 3 August 1998, every Co-opted Governor may be re-elected for further terms of five years by a resolution of the Governors, upon which the Co-opted Governor standing for re-election may not vote. THE GOVERNORS IN OFFICE DURING THE YEAR AND UP TO THE DATE OF SIGNING THE ACCOUNTS WERE: Co-opted Ex-officio Rosalind Sweeting – Chair The Rev’d Simon Downham, Vicar of St Paul’s Church, Hammersmith Gubby Ayida Mark Brewer Pauline Campbell (appointed 17th December 2020) Chantal Free Stephen Hodges (resigned 26th November 2019) Nicholas Jordan (resigned 2nd December 2020) Rob Lewis (appointed th October 2019) Joanna Mackle (resigned 3rd February 2021) Kieran Murphy (appointed 17th December 2020) Annamarie Phelps Alex Plavsic David Price (appointed 26th November 2019) James Priory Tracey Scoffield James Smith (resigned 28th January 2020) Bobby Uberoi Charles Wijeratna The Head David Goodhew MA FRSA Finance Director Fiona I’Anson BA CPFA Clerk to Governors Lucinda Evans BA LATYMER FOUNDATION CONSOLIDATED REPORT AND FINANCIAL STATEMENTS 2020 4 Governor Committees Finance and General Purposes Chair Stephen Hodges (until 12th November 2019) Nicholas Jordan (from 12th November 2019 until 11th November 2020) Members Nicholas Jordan (until 11th November 2019) Rosalind Sweeting Charles Wijeratna Alex Plavsic (from 23rd September 2020 until 11th November 2020) Communications Co-Chairs Tracey Scoffield, Joanna Mackle (disbanded in November 2019) Member Charles Wijeratna Audit and Risk Chair Alex Plavsic (until 4th May 2020) Mark Brewer (from 4th May 2020) Members Gubby Ayida Anne Barnard (invited from 13th January 2021) Mark Brewer (until 4th May 2020) Chantal Free Bobby Uberoi (from 14th October 2020) Investment Chair Rosalind Sweeting Members Massimiliano Belingheri (invited) Georg von Opel (invited until 17th March 2020) Robert Pierce Jones (invited) Bobby Uberoi Education and Pastoral Co-Chairs James Smith James Priory (until 6th November 2019) Chair James Priory (from 6th November 2019) Members Annamarie Phelps David Price (from 3rd March 2020) Tracey Scoffield Helen Lowe (invited) Nominations Chair Rosalind Sweeting Members Gubby Ayida Mark Brewer Nicholas Jordan (until 2nd December 2020) Tracey Scoffield Charles Wijeratna LATYMER FOUNDATION CONSOLIDATED REPORT AND FINANCIAL STATEMENTS 2020 5 Introduction by Chair of Governors Welcome to our 2019/20 Annual Report and Accounts. At the beginning of this academic year no one could have predicted the impact and extent of the global pandemic which developed in early 2020. Like every charity, we have had to work hard and fast to adapt our operations to cope with seismic changes to our way of life. As a Governing Body, we have focused on providing strong governance and effective leadership during this turbulent period. Our first priority has been the health and wellbeing of both staff and students and we have worked closely with the Head and his Senior Management Team to respond to their immediate needs and those of our local community. Steering the Foundation through this unprecedented period has been challenging and it is clear that we are not out of the woods yet. There is still much uncertainty about the future and we must do all we can to ensure the financial resilience of the Foundation for the longer term. Now, more than ever, our mission to provide an outstanding education for all academically able children, no matter their financial means, is a moral imperative. We know we will face difficult times ahead but we continue to strive towards our goal of funding one in four pupils on a bursary by 2024. In the same way, our commitment to our outreach work is undimmed and we have adapted delivery of our programmes to the needs of local children whose education has been disrupted by school closures. As well as opening the school as a safe place for the children of key workers and vulnerable children and running holiday camps focusing on wellbeing, we also worked to tackle digital poverty, providing hardware to local secondary school children so that they could access their teaching and learning remotely. It was humbling to see how many Latymer families donated money to the Emergency Bursaries Fund we launched in the summer term. We set up the fund to ensure that no child has to leave the school because of a change in their family’s financial situation as a result of the pandemic. The unfailing generosity of the Latymer community, together with the many selfless acts undertaken to support local families in need, is truly inspiring. These values of good citizenship and empathy, which we nurture alongside a broad education grounded in humility, impressed the Independent Schools Inspectorate (ISI) who visited us earlier in the year. Their report was extremely positive about all aspects of the education and pastoral care offered at Latymer Prep and Latymer Upper Schools. Never have these qualities been put more to the test than during 2020. I am so proud of our community and the way that it has responded to this crisis and continues to do so. Ros Sweeting Chair of Governors LATYMER FOUNDATION CONSOLIDATED REPORT AND FINANCIAL STATEMENTS 2020 6 Head & Principal foreword The 2019/20 academic year was very much a tale of two halves – the best and the worst of times – and both have brought out the best of the Latymer community. Until March staff were busy teaching a full curriculum and a myriad of extra- curricular activities were taking place across the school; concerts and plays were performed by our talented students, one of whom was a finalist in the BBC Young Musician of the Year competition, and there were scores of sporting highlights including our 1st VII netball team reaching the national finals. Our school charity theme chosen by our pupils was ‘Environmentalism and Sustainability’ and among the activities was the planting of more than 7,000 trees in West London parks during National Tree Week, setting a new record. We also made significant improvements to the outdoor areas on the school site, with more green spaces and summer flower beds. When lockdown began, the majority of our planned works including the significant redevelopment of the Sixth Form Centre had to be postponed, but thankfully we were able to complete the installation of environmentally friendly ‘green walls’ around our play areas over the summer holiday. The period from March onwards was the most unprecedented and challenging we have known in all our years of teaching. As the site was forced to shut, we moved swiftly to remote learning, continuing high quality education provision for all students, albeit in a different form and subject to certain constraints. We were so proud of the ability and resilience of all of our students as we adapted to online learning across both schools. We were also delighted to be able to partially reopen the Prep School before the end of Summer Term and have our Year 10s and 12s back on site for wellbeing workshops and sessions on university applications and career advice. The year was particularly unsettling for our Year 11 and 13 students who, despite the tumultuous period of confusion and u-turns over results, achieved stellar results. The grading process we adopted was both rigorous and fair in every regard and the results were excellent and well-evidenced. We speak for all the staff in Upper and Prep schools, when we say how proud we are of the remarkable achievements of these students. As well as managing the impact of the pandemic on core school operations, we were delighted to be able to continue supporting our community and it is testament to our ethos and values that our staff, parents, pupils and alumni immediately volunteered their time and skills to help people in need. A Year 10 student even earned recognition from the Prime Minister for her innovative solution to tackling isolation amongst the elderly in care homes, whilst our alumni set up a production line in our Design department and created more than 100,000 pieces of PPE. Whilst school life continues to be disrupted, we are proud of how we have responded as a charity and as two schools, staying true to our aims throughout this most challenging of times. David Goodhew Andrea Rutterford Head, Latymer Upper School Principal, Latymer Prep School LATYMER FOUNDATION CONSOLIDATED REPORT AND FINANCIAL STATEMENTS 2020 7 Trustees’ report AIMS OF THE CHARITY The Latymer Foundation provides leading co- educational schooling in the UK, providing young people from all backgrounds with a life-changing education that equips and inspires them to make a positive impact on society and to excel in the wider world.